Ryan Berry - May 8, 2023 Form 4 Insider Report for Ares Management Corp (ARES)

Role
Chief Mktg. & Strategy Officer
Signature
/s/ Anton Feingold, by power of attorney
Stock symbol
ARES
Transactions as of
May 8, 2023
Transactions value $
-$13,195,726
Form type
4
Date filed
5/10/2023, 08:55 PM
Previous filing
Feb 2, 2023
Next filing
May 18, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARES Class A Common Stock Options Exercise $8.03M +423K +115.52% $19.00 789K May 8, 2023 Direct F1
transaction ARES Class A Common Stock Tax liability -$21.2M -259K -32.84% $81.96 530K May 8, 2023 Direct F1
holding ARES Class A Common Stock 2.7K May 8, 2023 By Retirement Savings Plan
holding ARES Class A Common Stock 7.39K May 8, 2023 By Spouse's SEP IRA
holding ARES Class A Common Stock 420K May 8, 2023 By Reporting Person and Spouse as joint tenants with right of survivorship
holding ARES Class A Common Stock 5K May 8, 2023 By IRA

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ARES Options (Right to Buy) Options Exercise $0 -423K -100% $0.00* 0 May 8, 2023 Class A Common Stock 423K $19.00 Direct F2
holding ARES Ares Operating Group Units 46.9K May 8, 2023 Class A Common Stock 46.9K Ares Owners Holdings L.P. F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes 365,932 restricted units granted under the Fourth Amended and Restated 2023 Equity Incentive Plan (the "Equity Incentive Plan"). Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.
F2 The options are fully vested as of May 1, 2019.
F3 Pursuant to the terms of the Fifth Amended and Restated Exchange Agreement, dated as of April 1, 2021, among Ares Holdco LLC, Ares Holdings L.P., Ares Management Corporation, and each Ares Operating Group Limited Partner (as defined in the exchange agreement), and subject to certain requirements and restrictions, the partnership units of the Ares Operating Group ("AOG units") are exchangeable for shares of Class A Common Stock on a one-for-one basis.
F4 The reporting person is a limited partner in Ares Owners Holdings L.P. ("AOH"), the direct holder of the shares of AOG units. The AOG units indirectly held by the reporting person are the number of AOG units that he has a right to receive as a limited partner in AOH.